Press release
Automotive Coatings Market 2023 Overview, Growth Forecast, Demand And Development Research Report To 2032
Automotive Coatings Global Market
The Business Research Company's Automotive Coatings Global Market Report 2023 identifies increase in demand for lightweight vehicles as the major driver for the Automotive Coatings market's growth in the forecast period. Stringent emission norms and the growing need for a reduction in fuel consumption have supported the demand for lightweight vehicles. The lightweight vehicle surfaces are coated with different types of coatings for protective as well as decorative purposes. Automotive coatings protect the automobile surface from corrosion as well as decrease the overall weight of vehicles.
The global automotive coatings market size grew from $18.75 billion in 2022 to $20.7 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive coatings market size is expected to grow to $27.72 billion in 2027 at a CAGR of 7.6%.
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Major competitors in the Automotive Coatings market are The Valspar Corporation, Solvay, Sherwin-Williams Company, PPG Industries, Nippon Paint Automotive Coatings Co. Ltd., Lord Corporation, KCC Paint.
A key trend in the Automotive Coatings market includes Strategic collaborations between companies. Companies in the automotive coating industry are undergoing various collaborations to develop new technologies and products.
Read More On The Global Automotive Coatings Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-coatings-global-market-report
The Automotive Coatings market is segmented -
1) By Coat Type: Clearcoat, Basecoat, E-Coat, Primer
2) By Resin Type: Polyurethane, Epoxy, Acrylic
3) By Technology: Waterborne Coatings, Solventborne Coatings, Powder coatings, UV-Cured Coatings
4) By Substrate: Metals, Plastics
5) By End-Use: Light Vehicle OEM, Commercial OEM, Automotive Refinish
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Coatings market.
The Business Research Company's "Global Automotive Coatings Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Coatings Market Include:
1. Executive Summary
2. Automotive Coatings Market Characteristics
3. Automotive Coatings Market Trends And Strategies
4. Automotive Coatings Market - Macro Economic Scenario
5. Automotive Coatings Market Size And Growth
……
27. Automotive Coatings Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Coatings Market
29. Automotive Coatings Market Future Outlook and Potential Analysis
30. Appendix
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